How to Buy the Mexican Peso

The Mexican peso is often closely tied to the value of the Euro.
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Buying foreign currencies like the Mexican peso can be a smart way to turn a profit on the fluctuations of the world's markets and economies. When you buy a foreign currency with your U.S. dollars and either it rises, or the dollar falls, you make money. All you need is a telephone, a computer or a nearby institution that deals in foreign currency exchange and you can buy the Mexican peso.

Step 1

Visit a foreign currency exchange service online. Many banks and currency trading sites have developed online order systems to meet the needs of customers digitally. The systems vary by company, but all require the same essential information to operate. Select "Mexican Peso" from the list of possible currency options and type in the amount of money you wish to spend in U.S. dollars. The amount in pesos will be displayed. If the amounts are suitable to you, enter your personal information and complete the order.

Step 2

Contact a foreign currency broker, bank or service by telephone. Inform the representative that you wish to purchase Mexican pesos and how much you would like to spend in U.S. currency. The representative will calculate the conversion amount and inform you what information is required to make the purchase. Currency can be sent to your home or office as needed and will arrive by insured carrier.

Step 3

Visit a currency broker, bank or service in person to purchase Mexican currency. Payment for your currency can be made in cash or by check, credit card or debit card. Service fees may apply depending on the payment method you choose and the broker you select. In person, currency can be bought immediately, but photo identification and proof of address may be required. You can purchase up to $3,000 per day in foreign currencies.

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